Driven

Source: https://research.stlouisfed.org/publications/economic-synopses/2024/06/28/uneven-consumption-growth-in-the-covid-19-economic-recovery This paper by Juan M. Sánchez and Masataka Mori examines the growth of consumption during the economic recovery from the COVID-19 pandemic, specifically focusing on the spending patterns across different income groups in the United States. The paper uses data from the Bureau of Economic Analysis and income elasticity estimates from Aguiar and Bils (2015) to demonstrate a positive correlation between income elasticity and real consumption growth. The analysis suggests that goods and services with higher income elasticity, which are consumed more by wealthier individuals, experienced greater growth in spending during the recovery period. This finding suggests that the increased consumption by wealthier families may have played a significant role in the post-pandemic spending surge.

Sourcers: Americans are split over the state of the American dream: https://www.pewresearch.org/short-reads/2024/07/02/americans-are-split-over-the-state-of-the-american-dream/ The State of the American Middle Class: https://www.pewresearch.org/race-and-ethnicity/2024/05/31/the-state-of-the-american-middle-class/ Both Pew Research Center reports examine the current state of the American middle class. The first report explores Americans' perceptions of the "American Dream," finding that a majority believe it remains attainable, although younger generations are more skeptical than their older counterparts. This report also finds that income and age play a significant role in these perceptions. The second report provides a comprehensive analysis of the American middle class since 1970, demonstrating a decline in the share of Americans considered middle income and a widening income gap between those in the middle and upper income tiers. The report also examines the demographic characteristics of the middle class, finding that certain groups, such as immigrants, Black and Hispanic Americans, and those with less education, are disproportionately represented in lower income tiers.

Source: https://en.wikipedia.org/wiki/Democratic_socialism Democratic socialism: a political philosophy that supports democratic governance and a socially-owned economy. Let's define democratic socialism and contrast it with Marxism-Leninism, state socialism, and social democracy. Let's further discusses the various economic models proposed by democratic socialists, including market socialism, democratic planning, and decentralized planning. We'll also explore the history of democratic socialism, its philosophical underpinnings, and the debate on the compatibility of democracy and socialism.

Source: https://www.imf.org What is Capitalism? The podcast discusses various forms of capitalism, including free markets, mixed economies, liberal market economies, and coordinated market economies. It also explores the criticisms of capitalism, including the potential for market failures, the concentration of wealth, and the need for government intervention to address these issues.

Source: https://www.bogleheads.org The Bogleheads investment philosophy promotes a simple, low-cost approach to investing based on index funds and passive management. Derived from the work of John Bogle, founder of Vanguard, it emphasizes key principles like living below your means, diversifying investments, minimizing costs and taxes, and avoiding market timing. The website provides a wealth of resources, including articles, videos, and a forum where members can discuss and refine their investment strategies. It is specifically designed for U.S. investors, though a separate section provides information for non-U.S. investors.

Source: https://www.pewresearch.org/short-reads/2024/03/06/a-booming-us-stock-market-doesnt-benefit-all-racial-and-ethnic-groups-equally/ The Pew Research Center article, "Booming US stock market doesn't benefit all racial and ethnic groups equally," analyzes data from the Survey of Consumer Finances to show that the recent growth in the U.S. stock market disproportionately benefits White families. White families are more likely to own stocks and have larger stock holdings than families of other races, with Black and Hispanic families having significantly lower median and mean stock ownership values. Additionally, White families are more likely to have retirement accounts, and their accounts tend to be larger than those of other racial and ethnic groups. Although Asian American families have a higher median net worth than any other group, the article points out that the wealth gap between White and minority families is significant, with White families owning a larger share of their wealth in stocks and mutual funds. These disparities reflect a long-standing pattern of racial inequality in financial wealth and investment opportunities in the U.S.

Source: Vanguard.com This description explores the relationship between risk, reward, and time in investing. It emphasizes that time plays a crucial role in reducing risk and enhancing returns. The discussion begins by acknowledging that investing always carries some level of risk, but understanding the risk-reward balance is key to making informed investment decisions. Diversification—spreading investments across different asset classes and issuers—is highlighted as an effective strategy to minimize overall risk. The concept of compounding is also explained, showing how reinvesting earnings can significantly boost returns over time. Through a hypothetical example, the explanation demonstrates how earnings on earnings can surpass the gains from the original investment, leading to exponential growth. The piece concludes by encouraging the development of a diversified portfolio to meet long-term financial goals like retirement or education savings.

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What can a Millennial teach you about Money? Let's find out. http://CrushTheWealthGap.com --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/amanbansil/support

Who should you listen to when it comes to financial education? Let's talk about that. http://CrushTheWealthGap.com --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/amanbansil/support

Climate Change and its impact to World Economies --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/amanbansil/support

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You're wasting time | The Sit Down Channel Support: Join Robinhood (1 Free Stock): https://join.robinhood.com/amans261 Merch (supports the channel directly): https://teespring.com/stores/crush-the-wealth-gap Patreon: https://www.patreon.com/amanbansil (thank you!) Get better at YouTube: https://www.tubebuddy.com/CrushTheWealthGap My other creative works: http://amanbansil.com Disclaimer: These are just my personal opinions; as always, do your own research and hire a professional should you need it. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/amanbansil/support

4 Easy ways to avoid bad tenants | Real Estate In this podcast: I am going to share my top 4 tips to make sure that you don’t end up with bad #tenants at your property. And at the end of the video, I may share another bonus tip, which is often overlooked but is a powerful tool for you to use to ensure that you motivate the renter to behave. 1) Which state is your #property in? For instance, in #California, it takes like 6 months to get someone out...I just spoke to someone yesterday whose property was completely trashed. It took him NOV 2019 until NOW (Aug 2020) to #evict the tenants! Here's the worst part: they didn't pay a single dime in rent or #utilities all this time, so he had to pay it while the pandemic is going on; he couldn't even shut off their water/electric - they threw parties and completely trashed it. They had 9 people living in 2 bedrooms. So, If this #property of his was in, say, #Nevada...well, it would take about 2 weeks to get a #Sheriff to evict a non paying tenant. So, that's tip number 1 - Buy in an owner friendly state. 2) Location (other than state): If the #apartment is in a good part of town, it's much less likely to be trashed. I had a #property which was in a good part of town and I had renters living there for a few years without any problems. So, choose to buy property in a good part of town where people who can afford to live there are the ones that apply. Note that these places will ALSO have higher rents and therefore WELL PAYING #renters. If you try to go cheap, then you're going to end up getting a mixed bag of tenants. 3) Vet the person by looking at #credit score and #employment and #savings. You gotta make sure that they can afford to live at your place. You can even have their HR give you a letter indicating what their current salary is and how long they've been employed (and what the state of their employment is). Usually, pay stubs are ok; but I would go one extra step to get this letter. 4) (my fav) contract this out to a PROPERTY MANAGER and let them handle the vetting part. A good property manager is going to cost 8%-10% and they'll handle all issues for you. They'll remind them of #payments and make sure they are up to date. It always is best to remove yourself from being a direct contact with your tenant. The Property manager will lop on late fees etc to ensure they pay. BONUS TIP: Watch the video! If you liked the info in this video, please go ahead and Punch that like button. If you’re looking to start investing, click the #Robinhood link below to start investing and claim your 1 free stock. Channel Support: Join Robinhood (1 Free Stock): https://join.robinhood.com/amans261 Merch (supports the channel directly): https://teespring.com/stores/crush-the-wealth-gap Patreon: https://www.patreon.com/amanbansil (thank you!) Get better at YouTube: https://www.tubebuddy.com/CrushTheWealthGap My other creative works: http://amanbansil.com Disclaimer: These are just my personal opinions --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/amanbansil/support

Deal Middle America (A message for people who are struggling during Coronavirus) Channel Support: Join Robinhood (1 Free Stock): https://join.robinhood.com/amans261 Merch (supports the channel directly): https://teespring.com/stores/crush-the-wealth-gap Patreon: https://www.patreon.com/amanbansil (thank you!) Get better at YouTube: https://www.tubebuddy.com/CrushTheWealthGap My other creative works: http://amanbansil.com Disclaimer: These are just my personal opinions --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/amanbansil/support

How society shapes us | Let's talk Happiness Let's talk about how society influences us and our future behavior. Today, we are going deep into Mindset and the theory around social norms and decision making. Growing up, you were told to follow a certain path. 1. Go to school/college 2. Get a job 3. Get Married/family 4. Retire well Where did these norms come from? Are these just some things your parents tell you so that you’d behave or is there more to them? To understand a bit more, let’s start by thinking of your life as a series of possibilities. You start your life with infinite possibilities limited only by, perhaps, your social status. ButAt any given point, you have an infinite number of possible things to choose from; however, your past heavily dictates where you ‘choose’ to go next. Once you make a choice, you take that abstract idea in the cloud of possibilities and you convert that into an action and then a result. And your reality changes to reflect that result. If we continue this process forward in time, we eventually arrive at the end of your life with all of your choices revealed and your life is now in the past with history never to be repeated again. Now, it’s important to note that this VERSION of your life is not the only version that’s possible. In fact, if you could go back in time and select different options in your lifetime, you would have a completely different outcome. In fact, there are infinite permutations of life events possible. And if we charted these on a graph, we would see a normal distribution of possibilities ranging from a life full of despair and a life full of extremes of joy. And the middle being contentment/happiness. So, what do Social norms have to do with this? Well, the norms that I mentioned earlier 1. Go to school/college 2. Get a job 3. Get Married/family 4. Retire well These all represent the most middle point in this distribution. This is statistically, the most common pathway that we take to yield a life outcome that is joyful and full of life. This is the NORMAL lifestyle of a human as described by our society. Social norms and our upbringing will push us towards this eventually. Many in our lives deviate from these paths: Warren Buffet, Elon Musk, - these are examples of societal elites who pushed the norms and did something different with their lives. For that effort, they are rewarded by society in material wealth and appreciation. So, they would fall somewhere right of the graph. So, Why am I telling you this? Well, the short answer would be - control. It’s in your control how your life actually plays out. Now, I understand that many things can happen in our lifetimes which can derail our lives from these socially accepted norms, but, what we do with those circumstances is also within our control. You must choose actions that create the right possibilities for you. If you family life is in shambles, you must take the appropriate actions today to fix the issue or to control it’s impact on you as much as you can so that you can drive your life outcomes towards happiness If your finances are out of control, then, you must learn and get control over your finances so that the other, more important aspects of your life dont have to suffer and compensate for your lack of focus. Mere Awareness of this potential possibilities can make you think of life differently, where you’re not at the mercy of your life dictating where you go, in fact, you are in charge of your life and you ensure that you arrive at an end life that will be meaningful to you. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/amanbansil/support

Employers don't care about you Loyalty to an employer can land you in the poor house. Employers want output; it can be from you or from anyone else they seem as fit. Your job at work is to treat yourself like a business. Get higher and higher pay by implementing these strategies. Channel Support: Merch (supports the channel directly): https://teespring.com/stores/crush-the-wealth-gap Patreon: https://www.patreon.com/amanbansil (thank you!) Join Robinhood (1 Free Stock): https://join.robinhood.com/amans261 Get better at YouTube: https://www.tubebuddy.com/CrushTheWealthGap My other creative works: http://amanbansil.com Disclaimer: this isn't stock advice. These are just my personal opinions. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/amanbansil/support

How I lost $360,000 and what I learned | Millionaire reveals biggest mistake Video mentioned: https://youtu.be/ujvs6WrHqlw If you're reading this, I wish you the absolute best in the Stock market. I hope you learn something from my channel and make your dream of investing come true, no matter where you are. Don't worry, it's not actually that complicated. You just need to listen to the right people. The gurus that tell you that you can be a millionaire trading options, day trading etc are most fakes or chance millionaires - and, yes, some may be very skilled. But there is a reason why the stat still holds that over 95-99% of the day traders can't beat the SP500 over long periods...so, why fight against math? If you wanna learn, I'm here to teach. And this wasn't easy for me to just put out there...I'm trying to show you my loses so that you can see that it's not all rosy and blue skies out there. But, hopefully, you go away with a sense of hope. Channel Support: Merch (supports the channel directly): https://teespring.com/stores/crush-the-wealth-gap Patreon: https://www.patreon.com/amanbansil (thank you!) Join Robinhood (1 Free Stock): https://join.robinhood.com/amans261 Get better at YouTube: https://www.tubebuddy.com/CrushTheWealthGap My other creative works: http://amanbansil.com Disclaimer: this isn't stock advice. These are just my personal opinions. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/amanbansil/support

How Capitalism Drives Innovation Channel Support: Merch (supports the channel directly): https://teespring.com/stores/crush-the-wealth-gap Patreon: https://www.patreon.com/amanbansil (thank you!) Join Robinhood (1 Free Stock): https://join.robinhood.com/amans261 Get better at YouTube: https://www.tubebuddy.com/CrushTheWealthGap My other creative works: http://amanbansil.com --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/amanbansil/support

2020 Income Collapse is hurting Musicians and other Creatives - How to make more money as a Creative working in the industry; we're going to review a musician as a case study. Disclaimer: I don't know illGates in person, I'm only going off of the small clip I pulled from the podcast to illustrate a point. This video, in no way is a reflection of his financial situation in whole. Links from Video: How Compounding works to get you Exponential growth: https://youtu.be/MrWaDzsrVS8 My music: http://amanbansil.com I'm a hobbyist #MusicProducer and I'm aware of the craziness that #2020 has caused for #Musicians around the world. I excel in #investment #strategy for the long term, especially if you have #capital coming in that you can't #invest properly. Proper #AssetAllocation is my bread and butter and I'm trying to address a need that I heard recently on a podcast. Frankly, it was heartbreaking and I could hear the fear in his voice. So, I wanted to record this to try to explain how investing is really really really important and how we can smooth out #income for Creative people who find themselves in a pinch right now. Obviously, it's too late to help those in trouble RIGHT NOW; but, at least, we can start the process to have them understand how to invest properly and how to take investing seriously to stabilize their incomes in the future. Let's go through this talk and let's see if I can convince you to start investing. Channel Support: Merch (supports the channel directly): https://teespring.com/stores/crush-the-wealth-gap Patreon: https://www.patreon.com/amanbansil (thank you!) Join Robinhood (1 Free Stock): https://join.robinhood.com/amans261 Get better at YouTube: https://www.tubebuddy.com/CrushTheWealthGap My other creative works: http://amanbansil.com --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/amanbansil/support

What Apple stock split really means for you & something else that's more important Support: Patreon: https://www.patreon.com/amanbansil (thank you!) Join Robinhood (1 Free Stock): https://join.robinhood.com/amans261 Get better at YouTube: https://www.tubebuddy.com/CrushTheWealthGap Grab a Hoodie: https://teespring.com/stores/crush-the-wealth-gap My other creative works: http://amanbansil.com --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/amanbansil/support

Let's talk about the Microsoft TikTok deal Support: Patreon: https://www.patreon.com/amanbansil (thank you!) Join Robinhood (1 Free Stock): https://join.robinhood.com/amans261 Get better at YouTube: https://www.tubebuddy.com/CrushTheWealthGap Grab a Hoodie: https://teespring.com/stores/crush-the-wealth-gap My other creative works: http://amanbansil.com --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/amanbansil/support

The upcoming Real Estate crash - are you ready? Support: Patreon: https://www.patreon.com/amanbansil (thank you!) Join Robinhood (1 Free Stock): https://join.robinhood.com/amans261 Get better at YouTube: https://www.tubebuddy.com/CrushTheWealthGap Grab a Hoodie: https://teespring.com/stores/crush-the-wealth-gap My other creative works: http://amanbansil.com --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/amanbansil/support

What do immigrants really think about America? We often hear the classic cliches "the land of the free" but what do immigrants really think about America and what advice do they have for others? Support: Patreon: https://www.patreon.com/amanbansil (thank you!) Join Robinhood (1 Free Stock): https://join.robinhood.com/amans261 Get better at YouTube: https://www.tubebuddy.com/CrushTheWealthGap Grab a Hoodie: https://teespring.com/stores/crush-the-wealth-gap My other creative works: http://amanbansil.com --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/amanbansil/support

Is Day Trading Worth It? [Citations below] You'll often hear people around you recommend Day Trading in its various forms; in this video, I take a look at what the research says about Day Trading. Citations: 1) https://faculty.haas.berkeley.edu/odean/papers/Day%20Traders/Day%20Trading%20and%20Learning%20110217.pdf 2) http://www.econ.yale.edu/~shiller/behfin/2005-04/kumar.pdf 3) https://faculty.haas.berkeley.edu/odean/Papers%20current%20versions/Individual_Investor_Performance_Final.pdf My other creative works: http://amanbansil.com Channel Support: Patreon: https://www.patreon.com/amanbansil (thank you!) Join Robinhood (1 Free Stock): https://join.robinhood.com/amans261 Get better at YouTube: https://www.tubebuddy.com/CrushTheWealthGap Grab a Hoodie: https://teespring.com/stores/crush-the-wealth-gap --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/amanbansil/support

Stock Market Crashed Rona, unemployment, and fed pumping trillions into the market with their printers BRRRRRR Should your strategy change overall when markets are doing this? The market just an amazing bull run but the last two days have been a downward spiral and it looks like we’re about to drop even more. What should you do with your stocks? Since Feb, Markets have been volatile. In Mar, markets drop so much that it triggered circuit breaks in the market Circuit brakes are market volatility regulations which were put in place in 1987 when the market dropped 22.6% in a single day. That was known as the Black Monday. A second incident happned in 2010 when Dow jones went down over 9% in 10 minutes. And then subsequently recovered before the market close. A lot of lessons were learned about machine trading on that day. Level 1 - 7% drop - 15 min timeout Level 2 - 13% drop 15 timeout Level 3 - 20% drop - quits go home. We’re done for the day, everyone is just too panicked. Now the question is…is the market going up from here or is it going down? Should you do anything differently for you stocks when the market is going down like this? It depends on the type of investor you are. If you’re a trader with lots of leverage, I would not be holding margin positions as the market is dropping unless you’re shorting the market. But this talk is for long term investors so, good luck buddy; I suggest r/wallstreetbets to find others of your kind (I lurk there, yes...yes, I do...I'm not ashamed to admit it)...but check out r/bogleheads when you're ready Obiwan. One thing is for certain, generally speaking don’t sell into a market crash because you’re likely to panic and then try to buy back in at wrong prices. Psychology of Traders: When market drops, it create a panic which causes selling to occur - eventually there is a price where people buy…people think that it can’t go below here…and people buy in and they really load up…now then markets can drop even further…this is where the market had taken a breather and now it’s resuming it’s sell off. During this time, you shouldn’t load up, rather you should buy a little bit at a time..because the idea here is to buy around the bottom, not at the bottom. Your fav stocks are about to go on a sale again. Hold cash and wait for drops to buy into stocks that you already love…Add to your index positions. These market drops are the time when you should really load up and buy more shares. As market drops lower, an investor seeks to buy more of the quality assets they already own, in my case that’s SP500 index as a the majority holding (85% currently). Buying like this allows you to take advantage of market fear and buy your fav stock or index at really good prices. So, don’t panic and hold cash - look for opportunities to buy some more. Have a longer term outlook that is at minimum 5-10 years out - if not more (if not, my fave "FOREVER" outlook - where you hold forever and live off your stocks when you're ready - and I'm trying to get there wayyyyy before retirement). You’ll do just fine. If you’re at retirement age, you shouldn’t be playing in the stock market too much…but you already know that. Any 50+ years olds should have a well diversified BONDS, STOCKS, and REAL ESTATE portfolio to ride through the market craziness...actually, I have more videos coming SPECIFICALLY for people that are trying to retire well and not just GUN IT and make couple of multi millions like I'm trying to do. More on that later. Good luck come join my YouTube channel, search for "Aman Bansil" http://amanbansil.com --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/amanbansil/support

Best Relationship Advice Ever Life is not always about meeting financial goals; sometimes, 'wealth' means more than monetary wealth and having peace of mind can be just as important. In this video, I share a simple technique which has worked wonders for me. I truly believe that most of our issues that we see are related to us having unrealistic expectations of others. We need to make sure that we set ourselves up for success by dealing with our INTERNAL issues and not projecting them on other people we're with. This type of introspection creates lasting relationships. http://amanbansil.com --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/amanbansil/support

The clip at the beginning of this video broke my heart when I saw it. I could feel the raw pain of this man (wearing the cap) and, in just a minute, I understood the systemic, generational wealth gap (and racism) that exists in the Black community. I can't help with the generational racism, but I can do my part in trying to educate minorities of all color about how we can all create Generational Wealth in our families and our communities. It's not difficult, it's not impossible, it just requires you to learn and apply those lessons and be persistent. I started with a negative net worth about 12 years ago; today, with 1.4M in net worth and climbing, I've learned a few lessons which I can share in order to help others. We gotta fix this. All of us who can, have to help educate; we gotta try. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/amanbansil/support

Really?? Yea really. http://amanbansil.com --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/amanbansil/support